3XSQ: Apple stock gets another price cut ahead of results

Jan 23 - Hours before Apple reports key earnings, another investment bank makes a bearish call on the stock. FBR is dropping its price target from $725 to $675.

▲ Hide Transcript

▶ View Transcript

Ahead more rain clouds gather over Apple's stock and Australia's all -- -- it goes. Later in the show. What does it take its course this Wednesday from Reuters world headquarters in New York there's now to go before apple actually reports earnings but let's not kid ourselves it's the biggest story of the day. We've already had another investment bank make -- bearish call on the stock. And BR -- dropping its price target from 725. Dollars to six ebony five. Apple shares are up about 1%. Hovering around -- psychologically important 500 on mark. Remember it's 30% from the -- September highs the focus will be on -- that's our daily digit. Analysts calling for earnings per share up thirteen dollars and 44 cents down from last year. Beyond that the big non recourse will be iPhone orders which make up. Over half of Apple's sales a lot of questions right now around whether they can sustain. Our of the huge growth they've -- -- -- sales. And so people are looking for shipment numbers and 5250. To 53 million range. Which is a huge number but again it's all about expectations are afraid if they come and -- -- map I think battle. That'll be huge cross and if they come in lower. That's going to be a very very negative indicator. It is more apple announces the West Coast bureau chief on Reuters TV and don't forget -- -- pretty later today. A surprise that McDonald's and no it's not -- and coffee -- to bacon. An unexpected rise in US sales helped bump up profit at the world's largest restaurant chain they rose almost 1%. Thanks to Chris. Openings and back of the mic rig sadly it. But analysts say the early part of 23 team will top as it -- short quick fixes for boosting sales numbers. McDonald's shares slightly right now. Outspoken JPMorgan -- Jamie Dimon is saying sorry again for his bank's six billion dollar trading wonder. He told a crowded dot is that if you're shareholder he apologizes quote deeply. Into the gold diamonds style he stretched JPMorgan -- record results. So well -- those -- He's right. The bank earned a whopping 21 point three billion dollars last year -- though diamonds than it was cut in half to a mere 119 dollars after an internal probe. Into the so called -- trade. -- what indicate -- into another disappointment slightly more hair gel it's teen heartthrob Justin Bieber our power player of the day. -- became the king of Twitter on Tuesday beating out pop star Lady Gaga as the user with the most followers according to Twitter countered dot com. The Canadian singer originally eighteen years old Natalie with 33 point 33 million followers topping lady got a thirty point three million. Breeding and to her to pack your rain between rivers ran out -- top five Katy Perry Rihanna. And President Obama. And then finally we're not kidding about this one. A goat in Australia escape the long arm of the law -- charges were dropped against her many animals public raising. Seemed Gary that goes with that very -- that -- there. Got his owner Aussie Canadian James does Arnold. Hot water when he months and hours outside -- -- temporary part. Cops slapped the continent with a fine or. 465. US dollars but the two had a day in court and in the end of bond was eventually dropped through the owners take away. I'm Gary the guys told the rocks -- -- valuable lesson tonight and that's that I bought off more than you can shoot. That is the latest from three times greatest wet -- catch our interview with Russian deputy prime minister arcade or commit add to other us. He tells Reuters apple hopeful country faces an uphill struggle to win and improve its image with investors. Also speak into this money manager -- weren't at big -- hedge fund conference in Boca Raton. Reuters Rhonda schaffler after how he plans to make back his lost millions. Remember about follow us on Twitter -- -- insider and check out YouTube channel at letters dot com slash players TV. I'm Lisa Bernhard this is.

Reuters is the news and media division of Thomson Reuters. Thomson Reuters is the world's largest international multimedia news agency, providing investing news, world news, business news, technology news, headline news, small business news, news alerts, personal finance, stock market, and mutual funds information available on Reuters.com, video, mobile, and interactive television platforms. Learn more about Thomson Reuters products: